Are media organizations changing or are we losing track of the imperatives?
1. Large-scale discounting is back across organizations. Just has refined tags to it to justify deals.
Coming to think of it, why not. Pressures are high, costs are going through the roof – be it newsprint or software. Salary demands are insane and turnover rates at field level are as high as ever. What option does the media have but to take volume routes and gain market share!
2. Content is now fragmented and camouflaged into pullouts and supplements to enable more commercial coverage.
Why are we reacting at all? Is this news in the first place? Why do we still open those pages and read them like there is no tomorrow? Or has the advertising become more important for the audience?
3. Senior management today comes in from varied industries like FMCG, Telecom and the like…
Well. Too bad, if we media hands sit on our butt and expect growth, organizations will only be forced to move on with fresh talent and ideas. There is no room for comfort zone sales calls and personal network cocktails to bring in the moolah. The new boys will show you that way it’s is done by their sheer presence in the market.
4. Hiring is happening only at junior and mid levels in media…
Indeed, the focus is on revenue augmentation and there is little space for boardroom and in-cabin planning. The work is in the market hence investments are being made in the doers more than the thinkers!
5. Fancy padded presentations are being replaced with single-slide performance figures…
Enough of the pipeline excuses friends. Now they want the real thing. Either perform, show the revenue or take the nearest exit!
Probably just my views and as always a shade radical, but it’s important to understand that despite what one thinks, its critical to survive the tough business climate. Making a career is equally tough and understanding of business is important. Yes not at the cost of selling your soul but a perfect balance needs to be established between commercial needs and the sanctity of policy.
Enter the wonderful world of media with an open mind and you will enjoy every bit of it. Baggage only ads to the lack of mobility.
Time to answer your queries now…
Q: Is there a specific time in the year when ad agencies look to employ, or is it just on the basis of vacancies?
Not that I know of. Hiring happens through the year since turnover rates are fairly high especially at the junior and mid levels. Quite often largescale hiring happens basis the agency winning new accounts.
Most often its vacancy based and also some amount of buffer hiring keeping in mind, new pitches and staff movement. There have been times when large accounts are lost, and some amount of downsizing / rotation happens but that is true of possibly any industry in the current environment.
Q: What is the most upcoming sector within the media world which would be the best to get involved with?
Currently new media / online seems to be on a clear upswing. More startups, more VC funding etc coming in. Large players have all entered the country and are on their way to building strong teams. Consolidation is also a prospect from what one can fathom.
Traditional media has been seen growth too, but essentially fragmented; hence if you are tech-savvy, and like the excitement of new media, this could be a distinct choice.
Very competitive like all other media and only the fleet-footed quick thinker finds his space, but certainly a growth area, now with internet penetration, mobile ownership and passion for gadgets on the fast track.
The audience demands titillation, and media that can excite constantly will see unparalleled growth no matter what. If you have it in you, go for it!
Q: I recently discovered that my bosses are not exactly aboveboard in their business practices. What should I do? Hang on and bear it, or quit and have a clear conscience?
If I were you, I wouldn’t think twice …. Quit!
I can’t comment on the world at large, but for some of us conscience is worth many a million. Stay clean, focus on your craft and nothing will stop you.
The market is large and there is no dearth of well-run, credible organizations in this country led by mature professionals with strong convictions.
I rest my case.
Q: Is it worthwhile doing an executive MBA for rising higher in the media?
Yes, it’s good to refresh your learning academically, and it will never be wasted, provided it’s a good course though. The additional qualification within the same company may not prove to be a catalyst for growth but will be handy if you move on. However do be wary of run-of-the-mill courses and choose a robust, credible institute that is a known brand and has churned out good professionals.
Quite often, large organizations sponsor their stars to attend high quality refreshers etc at IIMs, TISS, ASCI etc and that may be an option if its offered within your firm, even if it means signing a bond for a while. Your HR department should be able to fill you in on this.